Published on 8/22/2018 in the Prospect News Structured Products Daily.
New Issue: GS Finance prices $1.89 million index-linked notes on S&P, Dow, Russell
By Marisa Wong
Morgantown, W.Va., Aug. 22 – GS Finance Corp. priced $1.89 million of 0% index-linked notes due Aug. 25, 2021 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the return of each index is zero or positive, the payout at maturity will be the greater of the threshold settlement amount, $1,365 per $1,000 principal amount, and par plus the return of the least performing index.
If any index falls but the return of each index is at least negative 30%, the payout will be par.
If any index falls by more than 30%, investors will be fully exposed to the decline of the worst performing index.
Goldman, Sachs & Co. is the agent.
Issuer: | GS Finance Corp.
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Guarantor: | Goldman Sachs Group, Inc.
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Issue: | Index-linked notes
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Underlying indexes: | S&P 500, Dow Jones industrial average, Russell 2000
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Amount: | $1,885,000
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Maturity: | Aug. 25, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of each index is zero or positive, par plus greater of 36.5% and return of the least performing index; if any index falls but the return of each index is at least negative 30%, par; if any index falls by more than 30%, full exposure to the decline of the worst performing index
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Initial levels: | 2,857.05 for S&P, 25,758.69 for Dow and 1,698.693 for Russell
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Pricing date: | Aug. 20
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Settlement date: | Aug. 23
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Underwriter: | Goldman Sachs & Co.
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Fees: | 0.5%
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Cusip: | 40055QTV4
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